No. You are incorrect. Please see my post #19. And this is a good example of why people shouldn’t ask for professional tax advice on an internet forum. : (
You’re correct.
I went back and read the post.
So what will passive income such as royalties be treated.
My income is pretty much royalty.
That is I do something once and get paid on it over and over , year after year.....
I occasionally get upfront monies from vendors but, mostly I earn residual like from an oil well, singing a song or making a movie.